St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-11-22
THE COMMERCIAL RECORD.
On the Chicago Board Of Trade Very
Strong Feeling Developed in
Wheat.
At the Start There Was a Good Demand
Which Continued Throughout
the Session.
Transactions in the Financial Circles
of Wall Street.-The General
Quotations.
gpecial to the Globe.

DoGSn morning
Saturday, but in about minute everything
turned up. December wheat advanced dur
ing the first 45 minutes from 755sc to 76ls@
76Hc. January from 76lyc to 76Is0765sc,
and MAY from see to S2s4c. There was good
general buying on support from New York
and the Northwest where receipts are falling
off sharply. Cables were steady with ten
dency to better prices. By 1880
o'clock May wheat crossed the S3c line.
Corn was firm but less buoyant than
wheat May was stronger than the
near by months, and touched 1880
while December chung timely around dc
Later in sympathy with the upward whlrl OF
wheat May advanced to 49l5c. Provisions
were very bullish and within half an hour
or so from the opening, produce was selling
at nearly the best prices obtainable Saturday.
January pork advanced from $3.50 to
1885. May pork from S14. 12l2c to S14.-
42l2c January lard from &c. 6l2c to 81. 10c,
and January ribs from $500 TO S7.O2l2c.
There was slight reaction from this range,
but subsequent recovery. Provisions were
active until the session was well nigh over.
Pork, lard and ribs were strong nearly to
the end, January and May pork were
the favorites in the list of options, January
going TO SLOPE, and May TO S14.52I2-a
+
there was a slight reaction. January ribs
went 10 sos, and January lard to S7.12120
7.15. with an active trade in both. On the
bulge to-day the leading bulls unloaded what
was left of their hines of long property.
Packers who kept out of the market until
the middle of last week, have been free sell
ers of product since "wednesday. Summed up
in few words, the country now owns the
provisions, having bought the product
at high prices The temper of the
local crowd has suddenly turned from
bullish TO bearish. In the past, whenever
the provision pit crowd has been arrayed
against the country. the country has lost.
This may be one of the times when the tables
will be turned. Wheat was strong all the
morning. ST. Louis kept sending IN bullish
advices and buying orders. The winter
wheat fields were still reported to be in bad
way. New York was also bulled to the end
and many of the strong local houses were
conspicuous buyers on bulges and breaks,
their orders seemingly to be regard
less of prices. Jones, Mccormick and
Kenneth were the heaviest single buyers.
After a season of weakness in corn due to
the receipts of 437 ears to day and estimates
for $50 cars tomorrow, the market rallied.
December advancing to 1850 and May to
49S4c. Operations in the pit were heavy on
the bulges. The market lacked many of the
features of strength that characterized wheat,
but it was voted dangerous by the bears May
closed firm above 49c. At the afternoon ses-
sion there was a slight weakening in grain
and provisions. Pork declined zoe, wheat
Ac and corn Ac. Oats were steady.
taking several million bushels during the
forenoon. December was whooped up to
764c, January to 77Ssc and May to S33lc.
a gain on the day of 1c in December and
January and 1 Il and 11sc in May Trading
was on a large scale. The market reacted
slightly from the extreme outside, but the
bullish fever ran high to the close and pre-
dictions of 90c wheat were freely made. 1t
6id look as though the market had a power
behind and calorie under it. Exports from
the Atlantic ports for the week up ,663, 600
bu wheat and -four and exports from the
Pacific slope will increase the total to
$4,000, 600 bu.
THE ROUTINE REPORT.
CHICAGO, Nov. 2I-A surprisingly strong
feeling was developed to-day in the wheat
market and prices again touched a higher
point, the highest yet by S4c since the recent
upturn in prices set in. The visible supply
showed an increase of 1,617. 900 bu which
was about what the majority of operators
had expected. The receipts were very liberal,
aggregating !, 264,OOO bu at twelve points,
of which Minneapolis and Duluth received
SO per cent, while the shipments from the
same points were reported 500, 600 bu and
cleaTanceS only 9S, 900. From the opening
of the session, however, it became apparent
that there was very good demand, and this
buying was continued throughout most of
the session. The dry weather in the winter
wheat district, followed by freezing weather
was given as a reason for strength, but there
must have been other reasons for the buy
Ing. AT any rate, speculation was in the
bot nd fhn hr,,vi
credited to ST. Louis parties. The opening
was about 1sCd14c lower than Saturdays clos
ing, and under good demand prices steadily
advanced with only slight fluctuations 1I2@
1SSc above inside prices, eaSed off trifle and
closed about Use higher than Saturday
Trading centered in May delivery, which
closed at $3.50 asked for May. Corn-Specu-
lative trading was fairly active. The market
fuctuated frequently within a moderate
range The feeling was quite firm for the
more deferred deliveries. while the near
futures ruled easier, due mainly to increasing
receipts. The market opening the same to
Ac under Saturdays closing prices, near
futures being easy, ruled firm and advanced
1205sc, Influenced by strength in wheat and
provisions, changed some and closed shade
firmer for near futures and Ac higher for
Moy than Saturdays prices. Receipts were
larger than expected, due to two days In
spection on some roads any estimates for to-
morrow rather liberal The visible supply de-
creased 364, 600 blu. Stocks here decreased 49,
600 blu. The latest for May to-day was 4S7sc
Oats were tinfiuencedby the Improvement
in the leading market. There was a firm
speculative feeling and prices exhibit about
1s@4c advance. Trading was not mater
tally increased. however, being only moder-
crate and mainly in May which closed at Gle
Provisions were active, the pork market
fairly running away from the local traders,
who endeaVOred to control it. Receipts of
hogs were 80, 900 and prices 5@10c lower.
Estimated arrivals tomorrow were also
To- hnx- had Off 80
values, as buying orders came in freely.
Packers sold moderately at the opening. their
offerings of all descriptions were quickly alb
sorbed and prices moved rapidly upward,
short ribs zoe from the lowest point and at l
o'clock was firm at slightly below outside
figures. pork being 3212c. lard 10012I2c and
short ribs 12lzc above Saturdays last sales.
Pork was the favOrite. On the afternoon
board, however, there was a reaction, pork
declining 20@22l2c, and lard and short ribs
7l2c, the final prices being S13.7712 asked
for January pork: S7.07I2 for January lard,
and $3.50 bid for January short ribs.
THE QUOTATIONS..
The leading futures ranged as follows.
Wheat-No. ., November, opened at ~75ISc
closing at757Sc; December, 75ssc, closing at
closing S3ssc. Corn-No. 2, November
opeued at 44hc, closing at 44l2c; December,
437sc. closing at 44lsc; January 441sc. clos
ing 44ssc; May, 4S5s, closing at 4S7sc. Oats
No. =, November, opened at 21l4c closing
at 2714c: December, 26Isc, closing at 27c;
May, 30Ssc, closing at Bic. Mess Pork-per
Dbl, January, opened at $3.50, closing at
Sl3.77I2: February, S14.I5, closing at
S143O; May, at S1412l2. closing at Sl4 25.
Lard-per 100 lbs, November, opened at
$685., closing at S7O2l2c; December, So. 95,
closing at S7.02I2; January. 6.97I2. closing
at S7.07l2; February, S7.07l2, closing at
Short Ribs-per 100 lbs, January. $500.
closing at Sc. 95 February. 81, closing at 81. O5
un
neglected; prices nominally steady. Spring
wheat-No. 2. 1880; No. B. 67l2c asked; No.
2 red, 76l2c. Corn-No. 2, 44i2c. Oats-No.
2 27Ac. Rye-No. 2, 54I2c. Barley-No 2,
77@79c. Flax Seed-No L, S2G@2O41.
Timothy Seed-Prime, 50. 30@2.32. Mess
pork, per Dbl. S1350@13.75. Lard, per 100
lbs. S7.10@7.12I2. Short rib sides, loose,
S7d7.05 dry sailed shoulders. boxed. $3.50